Dangote Refinery IPO
Subject to final approved offer terms. IPO not currently open.
Own a piece of Africa's next big industrial move.
Africa's largest refinery. Now available to you.
A new opportunity to invest in one of Africa's most significant industrial businesses is on the horizon. The Dangote Refinery, one of the largest single-train refineries in the world, is preparing its IPO.
Velox Payments users will be able to participate through the app. Register your interest today and we'll notify you the moment it goes live.
Industrial scale
The Dangote Refinery is one of the most significant industrial projects in African history.
Through the Velox app
Participate directly through your Velox Payments account.
First to know
Register now and be notified the moment the subscription process officially opens.
African opportunity
An unprecedented chance to own a stake in Africa's economic future from wherever you are.
What you need to know
The key offer details, based on the current published information. Subject to final approved offer terms.
IPO Offer Details
Important note
The IPO is not currently open for subscription. Joining this page does not constitute an application, reservation or guarantee of an allocation. We'll notify eligible Velox Payments users when the applicable subscription process is officially available.
What Happens After You Apply
Once you've submitted your application, you don't need to do anything else until the allotment process is completed. There's no need to check in or follow up, we'll keep you informed as things progress.
What to expect
14 September - 13 October 2026
The application window is open and eligible investors can submit their applications.
27 October 2026
The Registrars will compile all applications received during the offer period.
5 November 2026
The Issuing Houses will submit the proposed Basis of Allotment, the process used to determine how the available shares are distributed to the SEC for approval.
11 November 2026
The SEC is expected to provide its no-objection to the proposed Basis of Allotment.
Around 1 business day later
The Allotment Announcement will be published, and the net proceeds from the offer will be transferred to Dangote Refinery.
Around 5 business days later
Any surplus funds from applications that were partially allocated or rejected will be returned automatically to your Velox wallet.
Around 15 business days later
Successful applicants' CSCS accounts will be credited with their allocated shares. The shares are then expected to be listed and begin trading on the NGX.
A quick note on the dates
- These dates are indicative and may change. The company and its advisers may adjust the timetable if any part of the process takes longer or key events happen at a different time. Think of this timetable as your best guide to what happens next. If anything changes, we'll let you know.
- If you receive fewer shares than you applied for or your application isn't allocated any shares, you will automatically receive the unused funds back in your Velox wallet.
- You won't need to request a refund or take any additional action.
- Once the shares are listed on the NGX, you'll be able to view your investment through your Velox portfolio and manage your holding like other NGX-listed investments.
How it works
Get involved in 3 simple steps.
Get Ready
Make sure your Velox Payments account is active and your required information is up to date.
Get Notified
We'll let you know when the IPO opportunity becomes available through Velox Payments and share the information you need to understand the process.
Invest
When the offer officially opens, eligible users can follow the steps to submit their application through the Velox Payments app.
You're in the right place.
We're getting everything ready so you can access the opportunity when the offer officially opens and the applicable subscription process goes live.
Download Velox Payments and create your account today.
Once you're set up, you'll be ready to receive updates about eligible opportunities available on the app.
Frequently Asked Questions?
Important: Read this before you subscribe
An IPO is an investment.
Investing in shares carries risk. The value of your investment can rise or fall, and you may not get back the amount you invest.
Nothing on this page should be interpreted as a recommendation to invest or a guarantee of returns.
Before subscribing, eligible investors should read the Official Prospectus and consider seeking independent financial advice where appropriate.
Subscription is only available subject to the final offer terms, eligibility requirements, regulatory approvals and approved subscription channels.
Do not transfer money or make any payment to anyone claiming to secure an IPO allocation outside an officially approved subscription process.
Want to know when the Dangote Refinery IPO goes live?
Register your interest to receive update.
Exclusively for Velox Payments users.
Registering does not constitute an application, reservation or guarantee of an allocation.